Office Depot selling Latin American venture for $690M
Boca Raton-based Office Depot said today they were selling their 50 percent stake in a Latin American joint venture to partner Grupo Gigante for about $690 million. Office Depot (ODP) is unloading its portion of Office Depot de Mexico, which has more than 248 stores throughout Mexico and Central America, as it prepares to merge with OfficeMax Inc. (OMX) Office Depot is the second-largest U.S. office-supply chain. Full press release is here.
Marco Rubio: Immigration bill short of 60 votes
Sen. Marco Rubio (R-Fla.) doesn’t believe the Gang of Eight immigration bill -- which he authored -- has enough votes to break a possible filibuster on the Senate floor. On Tuesday, Rubio was asked whether the bill has 60 "yes" votes. He replied, "No, and I think even the Democrats would concede that." More at Politco.
| ENVIRONMENT NEWS
Aggressive action called for in fight for Apalachicola River
Florida officials should use "every arrow in their quiver" to restore the flow of fresh water to the Apalachicola River and Bay, Florida Agriculture Commissioner Adam Putnam said Monday. "Under the current regulatory regime, I am not optimistic that the Apalachicola Bay oyster industry will recover in the near term," Putnam said
COMO Hotels making first U.S. push in Miami Beach
The future Metropolitan by COMO may not seem like a giant hotel development compared to some on Miami Beach, but the hotel’s 74 rooms, two pools, seafood restaurant and spa represent a big step in the continuing evolution of Miami Beach. The property is the first U.S. location for COMO Hotels and Resorts, a Singapore-based hospitality company. Located at the site of the former Traymore Hotel, 2445 Collins Ave., the nine-floor hotel is on track to open in mid-December. More at Miami Herald.
Florida legislative leaders complain about furloughs
House Speaker Will Weatherford and Senate President Don Gaetz wrote letters to Defense Secretary Chuck Hagel and members of Congress asking them to spare federal military technicians from furloughs. With those letters, Gaetz and Weatherford joined Gov. Rick Scott in raising concerns about furloughs due to sequestration. More from the AP.
Beckham tours Miami stadiums; city hopes for team
Soccer star David Beckham may be setting his sights on a new sports venture: a professional soccer team in Miami. Beckham toured Sun Life and Florida International University stadiums this past weekend and met with Miami-Dade County Mayor Carlos Gimenez. More from the AP.
Sunscreen slows skin aging, even in middle age
A new study from Queensland Institute of Medical Research in Austrailia gives evidence that using sunscreen every day prevents wrinkles. And middle age isn't too late to start, the researchers found. According to the authors, sunscreens and antioxidants have long been touted to prevent skin aging, but no scientific evidence to date has shown they do, until now. More from CBS news.
Today's Afternoon Update was compiled by Joyce Edmondson